| Welcome to Global Village Space

Wednesday, January 25, 2023
Advertising

FFC earns net profit of Rs 21.89 billion!

During the year FFC produced 2,507 thousand tonnes of Sona Urea and registered aggregate sales revenue of Rs 108.65 billion. Other income of the company also increased due to higher return on investments and increased dividend distribution by associated companies.

Print Friendly, PDF & Email

Fauji Fertilizer Company Limited (FFC) has announced its financial results for the year ended December 31, 2021, in its Board of Directors meeting held on January 31, 2022. The company achieved a net profit of Rs 21.89 billion translating into an EPS of Rs 17.21 which was 5% higher than the last year.

The company also declared the final dividend of Rs 4.65 per share, with an aggregate distribution of Rs 14.50 per share for the year 2021.

During the year FFC produced 2,507 thousand tonnes of Sona Urea and registered aggregate sales revenue of Rs 108.65 billion. Other income of the company also increased due to higher return on investments and increased dividend distribution by associated companies.

Read more: FFC holds second successful corporate briefing for the year 2021

To clarify, other income showcased a surge of 36% YoY to PKR 2,005mn on account of higher income from cash balances. Hence other income in CY21 arrived at PKR 7,919mn, up by 23% YoY given dividend income from associated companies.

FFC takes lead in dividend disbursement to shareholders

In December 2021, FFC has been appreciated by the Central Depository Company (CDC) for the earliest announcement of book closure within 15 days of approval of the third interim dividend by the Board of Directors and subsequent fastest electronic disbursement of dividend into shareholders’ accounts on the 8th day, after the start of book closure. Thus, achieving compliance well before the deadlines as per SECP directives.

In a meeting with high officials of CDC, Mr. Imran Rizvi, Head of Shares Department FFC acknowledged that it was the joint teams’ effort of CDC Share Registrar (CDCSR), FFC, and AKBL – the designated bank of FFC, which made this distinct achievement possible by creating a new milestone in corporate history.

Read more: FFC becomes largest taxpayer in manufacturing sector

Important to note, due to FFC’s remarkable performance, it has won numerous awards. In November, the company won the Best Corporate Excellence Award in Fertilizer Sector for the seventh consecutive year as adjudged by the Management Association of Pakistan (MAP). Brig Asrat Mahmood (Retd), the Company Secretary, and Syed Imran Rizvi, Head of Shares, received the award.